2023: Moving Forward
January is the time for new beginnings, resolutions, and planning for another year.
Inflation may color many small-business decisions this year but, hopefully, employers can move forward, employees can have job security, and consumers can be able to afford goods and services.
With that in mind, we turn to Ryan’s, the company that is launching its largest gaming and bowling center at Hanover Crossing, the former Hanover Mall. It’s another story of revitalization and moving forward. Perhaps more than other businesses, Ryan’s felt the pain of government-mandated closures and restrictions.
If you’re hiring this year, SCORE’s Marc Goldberg offers some creative questions that will keep job candidates on their toes, and Karyn Rhodes deciphers the enigma of Generation Z, what they expect from an employer, and what employers need to know about them.
We’re looking forward to a year of events to help grow your business and recognitions, including our 2023 Watchlist. Cast your vote for the companies to to keep an eye on this year at this link:
Here’s to your best year yet!
A Month Of ‘Firsts’
Once the holidays are behind us, we often feel that the remainder of winter is just a season of dark, wet bleakness. Not so! January, historically speaking, has been a busy time of year with some notable dates – some you may know, while others, not so much. Here are some of the numbers:
January 1 – One of the most influential events in the U.S. happened in January – on Jan. 1, 1892, Ellis Island opened, allowing for the immigration of more than 20 million people.
January 2 – The 134th Rose Parade and 109th Rose Bowl Game was held this year on Monday, Jan. 2, in Pasadena, California. The events occurred the day after New Year’s Day in keeping with the tournament’s “Never on Sunday” tradition, kept since 1893.
January 3 – On Jan. 3, 1959, Alaska officially became the 49th state of the United States.
January 8 – “The King” himself, Elvis Presley, was born on this day in 1935 in Tupelo, Mississippi, in a two-room, shotgun-style house, along with his twin brother, Jessie Garon, who was stillborn. The family relocated to Memphis when Elvis was 13.
January 10 – London is famous for its extensive subway system, nicknamed “The Tube.” This makes sense because they’re also responsible for opening the first operational underground railway on Jan. 10, 1863.
January 24 – January brought the end of the monarchy in Hawaii when Queen Liliuokalani was forced to abdicate on the 24th of the month, in 1895.
January 25 – Do you follow the glamorous world of celebrities? Then you’ll be interested to know that the first-ever Emmy Awards were held on January 25, 1949.
Around the Region
Town of Falmouth
SOURCE: DATA.CENSUS.GOV, CENSUSREPORTER.ORG
Form of Government: Open Town Meeting
Total population: 33,128
American Indian or Alaska Native: 0.9%
Hispanic or Latino: 3%
Two or more races: 4%
Family households: 14,043
Average household size: 2.29
Median household income: $78,884
Per capita income: $51,645
Mean travel time to work: 25.7 minutes
Educational Attainment (age 25+)
High school graduate: 93.8%
Bachelor’s degree or higher: 50.1%
Atlantic White Shark Conservancy Concludes Successful Research Season
The Atlantic White Shark Conservancy (AWSC) has completed its 2022 research season, advancing its mission to support scientific research, improve public safety and educate the community to inspire white shark conservation.
Dr. Gregory Skomal of the Massachusetts Division of Marine Fisheries (DMF), working with the Conservancy, successfully tagged 31 white sharks off Cape Cod during 18 research trips conducted from July through early November.
Since the DMF began its tagging program, 277 individual white sharks have been tagged off the coast of Cape Cod.
“This year marks 10 years of collaborative efforts between the DMF and the Conservancy to better understand the movement and behavior of a critical species in our marine environment, and to share that information with the public to improve safety,” said Cynthia Wigren, CEO and co-founder, Atlantic White Shark Conservancy. “Data collected by the tags has become the foundation for studies being conducted on Cape Cod and beyond.”
For the first time during the 2022 season, the Conservancy also began using drone technology to collect video footage of white sharks in Cape Cod waters. The footage collected is being used to investigate potential relationships between environmental conditions and predatory behavior.
Jack Conway Retains Prestigious RELO® Quality Certification
Jack Conway has successfully completed the recertification process for the prestigious RELO® Quality Certification by Chicago-based Leading Real Estate Companies of the World®.
The RELO® Quality Certification (RQC) was the first program in the relocation industry to quantify and qualify what true relocation service excellence means. Modeled after the Malcolm Baldrige national quality award, it was created by the network to provide measurable standards for the pursuit of relocation excellence.
Under the guidance of Jack Conway’s Director of Relocation, Susan Babb, Jack Conway has demonstrated continued commitment to the specific criteria used to evaluate performance and production, staffing, training and continuing education, quality and scope of relocation services, program marketing, customer satisfaction, technology resources, office facilities and more.
After earning the certification, a company must complete a recertification process every five years to ensure it continues to meet the program’s rigorous standards and remains current in terms of technology, relocation trends and other relevant areas.
LeadingRE Executive Vice President, Member Services, Kate Reisinger credits Jack Conway for its dedication to excellence in relocation. “Being re-certified for the RQC reflects Jack Conway’s ongoing commitment to delivering a superior level of service to its relocation clients and operating a highly efficient and responsive program that is among the best in the business.”
Stacy Olson, FOREVER Senior Lead Ambassador
What Is FOREVER?
FOREVER is the only cloud storage company that is dedicated to the long-term preservation of all your family memories and stories. They guarantee that your memories will be preserved, protected and available for your lifetime, plus 100 years.
Other cloud storage services delete your account and content when you are no longer active, but your FOREVER account lasts for generations. At FOREVER, your memories are safeguarded every step of the way. You designate how your family can access your memories after you are gone. You can also designate an account manager to help you if you want.
When you have your photos and videos stored with FOREVER, they are backed by the FOREVER guarantee, including automatic file format migration over time. So, as technology advances and formats change, you’ll still have full access to your precious videos and home movies without having to go through the expense of having them digitized once again.
When did your affiliation begin?
I joined with FOREVER in October 2016 as an additional way to assist my current clients with their memory-keeping needs.
What is your business/career background?
My memory-keeping career began 18 years ago when I was invited to a scrapbooking party and was relieved to finally be saving my young daughter’s precious photographs in albums that I could share with my family.
Through the process of creating these albums and organizing my vast photo library, I came to the realization that so many of my friends and family members were also overwhelmed with their photographs and memorabilia. They had these items stuffed in drawers and boxes throughout the house and their digital images and videos were “somewhere” on their computers, hard drives, camera cards, phones, etc. They needed help and that’s when my journey as a Photo Organizer and Coach began.
I became a certified member with the Association of Personal Photo Organizers (APPO) and partnered with the largest provider of album-making supplies, Creative Memories, in 2005 when I began hosting workshops and classes to teach my clients how to organize and make albums as well as digital photo books.
Throughout the years and as technology evolved, it became evident that many clients lacked the knowledge needed to dedicate to the saving and organizing of their photo mess and digital disarray. After researching many Cloud storage companies, I found that FOREVER was the safest place for both myself and my clients to save all photos and videos, and became a certified ambassador with them to continue to assist them with their photo needs.
What makes FOREVER unique?
FOREVER is unique because it offers a COMPLETE memory-keeping platform including: permanent Cloud storage where you can easily save, organize and share with family and friends, media conversion to digital format (home movies, old photos, audio, etc.), beautiful photo keepsakes and gifts, and family research where our trained professionals will uncover your ancestors, document their lives, and share their stories with you so that you can celebrate them today with friends and family.
What is your favorite part of your work?
My favorite part of my work is meeting with families to help bring them peace of mind, knowing that their most precious memories are saved for their lifetime plus generations beyond. My clients know that I am there to help them every step of the way in the process and it brings me great pleasure and satisfaction to assist them with their photo needs.
I am equally grateful for all my team members whom I help mentor and support as they start their own businesses as Photo Coaches. While sharing all of FOREVER’s offerings with their family and friends (very part-time, or full-time if desired), they make tremendous progress on their own photo projects while earning a substantial income as they grow their business.
Future plans for the business?
To make FOREVER a household name and to assist thousands more families. Because of the huge growth FOREVER has experienced in the past 10 years, we need more ambassadors to help spread the mission and share our offerings. It’s my hope that many more memory keepers will join our FOREVER family and be a part of a company with heart.
Nominations are now open for C&PB Media”s annual WATCHLIST.
Now through Jan. 31, we will be accepting votes for your favorite local business. Where do you shop small? What place do you always chat about with your friends that’s a ‘”must try, or go-to”? We want to know! Innovators, game changers and trendsetters!
The WATCHLIST winners will be featured in our March edition, and will receive a special 2023 Watchlist Web Badge, and special marketing package!
New Development Slated For Willowbend Community
Cranberry Point will be the latest addition to the upscale Willowbend community in Mashpee..
The development of 14 townhouses will offer three-bedroom, 3.5-bathroom residences, with 2,500 square feet of space that includes a study, vaulted ceilings, Wolf and Subzero appliances and glass folding doors that provide natural light and a seamless transition to indoor-outdoor living. While many plans are set for these homes, buyers will still get to customize certain aspects including a finished basement, a fourth bedroom or an outdoor kitchen or fireplace.
The community is just steps away from the clubhouse and all of Willowbend’s amenities including family-friendly events and activities, such as a summer concert series, beginner golf mixers and daily pool games, 27 holes of golf on three nines with community gathering spots on the course, and a brand-new one-acre putting course — the “Town Green.” Plus, community members will have the opportunity to give back through the Willowbend Gives Charity Program and the multitude of sustainability initiatives going into place.
“Cranberry Point was designed with community and effortless living at the forefront,” said Troy Miller, Southworth Chief Development Officer. “Southworth has a vision for this neighborhood where residents wave at each other from their porches, socialize at the new putting green on summer evenings and truly get to know each other through the unique programming offered through Willowbend. We want owners to immerse themselves in the Cape Cod lifestyle and leave the rest to us.”
More information at https://willowbendcapecod.com/real-estate/cranberry-point/
Queen of Swords, a retailer focused on offering unique products from women-owned brands and small batch makers providing fair sustainable wages to workers, has opened at 24 North St. in Mashpee Commons.
Queen of Swords showcases a curated collection of artisanal goods for home and lifestyle, including a wide range of jewelry, apparel, home textiles, kitchen accessories, apothecary goods, pantry items, body care, home fragrance and cards.
Queen of Swords is located in Mashpee Commons.Queen of Swords is located in Mashpee Commons.The shop, owned by Erin Heath of Mashpee, was formerly located in Somerville. Its distinctive name comes from the Queen of Swords tarot card, which Heath pulled prior to deciding to establish the business.
“At Queen of Swords, we consider ourselves storytellers,” said Heath. “We look forward to sharing the artisans’ stories with visitors to the shop, using it as an opportunity to find connection and meaning through our shared humanity and the crafts of others.”
“Queen of Swords is the perfect example of a locally owned, independent business that makes Mashpee Commons special,” said Krysten Kelliher, Marketing Director for Mashpee Commons. “Its unique inventory represents a deep commitment to creativity, equity and social consciousness. I encourage Mashpee Commons guests and local residents to visit Queen of Swords and learn more about its products and mission.”
Getting Good Employees Starts With Asking Probing Questions
Now is the time of year when all small businesses will be in the hiring mode.
Michael Collins, in “Good to Great,” once said that the task is not just getting people on the bus, but getting people in the right seats on the bus. Finding people is tough, but finding the right people is tougher – especially today with so few candidates available in the labor pool that can actually live on Cape Cod & the Islands.
Interviewing candidates needs to be thought of as a dialogue or a conversation, not an interrogation. It is not, ask a question, get an answer – ask another question, get another answer. The candidate’s answer should lead you to a dialogue that will provide you with insight into whether the candidate is compatible with the culture of your business. The two most important words that generate the best replies are “Tell me…” Try some of these questions, but think about where you will take the conversation depending on the reply you receive.
Tell me about yourself. Give me a summary that doesn’t just repeat what is on your resume.
What are your greatest strengths and weaknesses we should know about? Ask the candidate to provide concrete, tangible job skills and actual anecdotes of both strengths and weaknesses that will apply to the position for which they are applying.
What did you like most and least about your last job? Ask the candidate to try to tie their answer into the needs of the job for which they are applying.
Why do you want to work here? This is a way for candidates to convince you that they have what it takes to fulfill your job requirements. It will show you if they truly understand your organization and what you are seeking.
Co-founder and CEO of Koru, Kristen Hamilton believes employers should ask questions to test candidates on seven value characteristics: Grit, Rigor, Impact, Teamwork, Ownership, Curiosity and Polish.
Grit: Tell us about a time you wanted something so badly that there was nothing that was going to stop you in achieving it.
Rigor: Tell us about a time you used data to make a decision. What was the complexity of the data used, how they used it and what kind of thinking was employed to address the issue?
Impact: Tell us about a time that you had a measurable (quantitative) impact on your job or an organization in which you were engaged. Or tell us about someone you admire that generated an impact on your life or the lives of others.
Teamwork: Ask, what is the most difficult aspect of working in a team environment vs. working independently? Or ask the candidate to describe a situation where working on a team didn’t quite work and why.
Ownership: Ask about a situation in which the candidate was involved and where they took ownership of a situation that made a difference in the outcome. You will see how much they value embracing possessing total responsibility for a situation when appropriate.
Curiosity: Ask, what was the last thing they really “geeked out” about? What have they taught themselves about so they can perform more effectively? How detailed do they engage into lifelong learning that will make them more valued as an employee?
Polish: Rather than ask a question, Hamilton suggests interrupting them while they are answering a question to see how they handle themselves. Nothing is more unnerving than being interrupted.
One final thought: The best candidates are those who will interview you as well as be interviewed. Be prepared to field their questions about working in your enterprise. Many candidates will self-eliminate themselves as candidates if you don’t respond with answers that fit their work value system.
Marc L. Goldberg is a Certified Mentor for SCORE Cape Cod & the Islands. Contact SCORE for FREE and confidential mentoring. SCORE offers human resource subject matter experts who can assist you with personnel issues. More information at www.score.org/capecod, or email firstname.lastname@example.org, or call 508-775-4884
Big Brothers Big Sisters of Cape Cod & the Islands
684 Main Street, Suite #3
Hyannis, MA 02601
Total number of employees: 8
Annual revenues: $760,142
Year established: 1974
The mission of Big Brothers Big Sisters of Cape Cod & the Islands is to partner with under-resourced families to provide their children with transformational, one-to-one profession-ally-supported relationships with caring adult mentors, so that their children will thrive.
Cape Cod, Martha’s Vineyard, Wareham & Plymouth
Become a Big! With a waitlist that sometimes reaches over 100 children, the need for volunteer mentors, especially male mentors, is always needed. Join a Committee! Our fundraising committees are looking for individuals who are passionate about raising funds to further our mission. Join our Leadership! On both the Cape & MV we are seeking leaders to join our boards to help further our mission.
Cape Cod Museum Trail
PASSPORT TO CAPE COD FOR ART, HISTORY, AND CULTURE
The Cape Cod Museum Trail sponsored by First Citizens’ Federal Credit Union is both a physical journey, and digital initiative that provides history-related prism into Cape Cod Life and Culture. The mission of the Cape Cod Museum Trail is to support and promote the image, wellbeing and financial health of Cape Cod Museums, Cultural Centers and Art Exhibitions by creating opportunities for networking, collaboration and educational programs in Barnstable, Plymouth, Bristol, Nantucket, Norfolk and Dukes County in the State of Massachusetts.
Generation Z In The Workplace
By Karyn H. Rhodes
Gen Z workers will make up 30 percent of the workforce by 2030. These employees have different work styles, expectations, and values than previous generations. As an employer, you’ll want to understand just what those are in order to optimize the work environment for everyone. What does your business need to know about Gen Z in the workplace?
Gen Z are those workers who were born after 1996 until 2012. While only some in this generation have been in the workforce for a few years now, generally speaking, there are some common characteristics members share when it comes to their employment. These include:
- They value diversity;
- They are highly collaborative and social;
- They want to align who they are with what they do;
- They are focused on pay transparency and equitable benefits;
- They want career growth opportunities;
- They value flexibility;
- They prioritize self-care.
The Gen Z characteristics can bring valuable benefits to you as an employer. For example, even though they have an unprecedented digital connection, they crave real-life connection and place a high value on offline relationships. This attribute can help enhance your culture and engagement levels.
In addition, they are competitive, ambitious, and work hard. Even though nearly half of Gen Z have numerous side hustles, while they’re working for you, they’ll be willing to put in the extra hours if they’re rewarded for it.
They are also intensely focused on problem-solving. They have seen the global community face everything from climate change to inequality and want to roll up their sleeves to fix things. As an employer, this can be another advantage of having Gen Z in the workplace since their solution-seeking nature can help move your business forward more effectively.
Lastly, since they are mission-driven and want to feel connected to a company’s values. If what you stand for resonates with them, they will care deeply. That passion can help you further your purpose and bring positive change.
As you seek to appeal to this younger generation that represents the future of work, it’s important to be aware of several things Gen Z is looking for from their employer.
Flexible work arrangements. Being able to choose where and when they work is at the top of Gen Z’s wish list. In fact, 72 percent of Gen Z employees have left or considered leaving a job due to an inflexible work policy. To attract these workers and show that you value Gen Z in the workplace, prioritize work-life balance and their personal well-being by offering flexibility and independence. That may mean remote work, a four-day workweek, or even letting them set their own hours as long as they accomplish their tasks.
Career advancement. These younger workers want an employer that invests in them and offers career growth opportunities. It’s important to note that they want to grow quickly, so providing training programs early and often is key. Beyond traditional training, consider opportunities for them to work alongside experienced peers, mentors, and coaches. And, as they grow, give them a chance to contribute and lead.
Non-traditional benefits. Beyond traditional medical and dental, they want access to more progressive benefits. These perks can include mental health days, unlimited PTO, wellness stipends, and financial wellness, as well as activities that create a sense of community – all of which may help address rising stress levels.
A sense of purpose. As we discussed earlier, these workers want work with a purpose that gives them a sense of fulfillment and allows them the chance to make an impact on society. In fact, 93 percent of workers say that a company’s impact on society affects their decision to work there. To appeal to Gen Z in the workplace, it’s important to highlight your efforts to be good global citizens in your communications. Be sure to include tangible examples so that these employees feel your mission and values are authentic.
Higher pay. A competitive salary is another of the most important benefits Gen Z is looking for, with 63 percent saying it’s a must-have. Be sure you review your salaries to make sure they’re in line with the market or you risk these young employees leaving. This is especially important now, as Gen Z faces increasing economic instability and rising cost of living.
As the newest generation in the workforce, and one that will soon make up a significant part of it, it’s important to understand these employees and their motivations. That way, you can meet them where they are to optimize their place in your company. For more tips on how to embrace Gen Z in the workplace alongside other generations, read our next article on the importance of an age-diverse workplace.
Karyn H. Rhodes is vice president HR Solutions at Complete Payroll Solutions. She specializes in all areas of human resources, including strategic planning, employee and labor relations, recruiting, compliance, training and development, compensation and benefits, policies and procedures, organizational development, executive coaching, workforce planning, and affirmative action plans. More info at completepayrollsolutions.com.
Mom’s Former Business Site Revived As Dance, Fitness Studio
By Bill O’Neill
Opening a new business is always a leap of faith, but maybe it’s less intimidating when you’ve been dancing for 25 years.
Last May, Julia Sykes opened Studio 721, a dance and fitness studio just off Main Street in Buzzards Bay. The building formerly housed her mother’s photography studio.
“Because it’s a small space, it created a sense of community among the people who have been coming,” she said. “When you come here, the instructor will know your name. You’ll probably know the people who are taking your class. The main feedback that I get, which I love, is that this is a welcoming space. That’s exactly what I wanted to do.
“Dance is a vulnerable thing, so I wanted to create a space where people could come and not have to worry about feeling out of place. They can just move and not be judged.”
Studio 721 offers about 20 dance classes per week. Sykes teaches contemporary and ballet, and other instructors lead sessions on barre, hip hop and XaBeat, among others. The studio also offers Pilates and yoga classes.
Sykes started dancing at age 5 and after a few years pursuing gymnastics, she continued her dance training, studying ballet, modern, contemporary, tap and jazz. “There’s something about it that I can’t describe,” she said. “It’s like my soul needs to do it. Once you’re a dancer, you’re always a dancer and it’s just something in your life that you feel compelled to do.”
After graduating from Bourne High School, she majored in dance and earned a Bachelor of Fine Arts degree from Long Island University in Brooklyn, New York.
“I had awesome training,” she said. “The dean of dance was a former principal with the Alvin Ailey American Dance Theater.”
She spent a summer as a member of a dance team for the Brooklyn Cyclones, a baseball team affiliated with the New York Mets, but began to miss Cape Cod. She met Wes Sykes, another Bourne native, when they were working at the same restaurant. About that time, her mother was diagnosed with ovarian cancer, and the new couple moved back to Bourne.
Sykes danced with several companies in the area and taught at Center Stage Dance Academy in Plymouth, the Dance Complex in Cambridge, the BoSoma School of Dance in Hamilton, and Turning Pointe Dance Studio in Falmouth.
After her mother, Lisa Amaral, passed away in 2019, the family wanted to find a use for the Forlivesi Photography studio that she had used for 20 years. (Forlivesi was Amaral’s maiden name.) Sykes knew just what to do with the space.
“Most dance studios focus on kids and offer one or two adult classes,” she said. “It was my dream to start something where we could provide classes for adults. I also wanted to offer dance-related fitness classes, because dancers benefit from cross-training with things like Pilates, barre and yoga.”
When she opened Studio 721 last May, she briefly wondered, “Are people even going to want to do this?”
“Luckily, I found out that there are a ton of dancers around here who grew up dancing and just stopped. I get a lot of people who come in and say, ‘I haven’t done this in 10 or 20 years. It felt so good.’ We also have complete beginners who try things like ballet, which is so hard when you’ve never done it before. They feel comfortable enough to come take our class, which is great.”
Sykes chose the name Studio 721 to honor her mother, who was born on July 21. Last year, she hosted a fundraiser on that date. Five instructors taught classes in different styles and accepted donations. The event raised over $2,000 for ovarian cancer research at the Dana-Farber Cancer Institute. “It was a small way to try and raise money for an important cause,” Sykes said.
Sykes grew up in Buzzards Bay. Her first job at age 13 was bussing tables at Mezza Luna restaurant, where she later worked as a waitress and bartender. Community spirit is important to her; she walked with students in the village’s Independence Day parade and hosted a toy and food drive at Studio 721 just before Christmas.
Julia, 31, and her husband Wes Sykes, an editor at Great American Media Services, live in Buzzards Bay, and are expecting a baby in April.
Ryan’s Grows Brand With New Location
By Carol K. Dumas
Even a worldwide pandemic couldn’t stop Ryan’s, the regional amusement center company, from making future plans.
“For everyone it was really tough,” agreed Director of Operations Zach McCaul about 2020 and 2021. “Luckily, for us we were able to utilize PPP loans and government grants and we were able to survive. We have come through the pandemic in good shape.”
McCaul is particularly excited about the future of the 65-year-old business that will open its largest location at Hanover Crossing later this month. The 42,000-square-foot space will cover two stories and feature 16, 10-pin bowling lanes, laser tag, axe throwing, a state-of-the art arcade with more than 90 games and a bar and restaurant. The space also includes an VIP lounge with a private bar, and a second story mezzanine, both of which will provide ample options for parties and functions.
Since its humble beginnings as an eight-lane bowling alley in the basement of a Post Office in Needham, opened by James A. Ryan (who is still involved with the company), Ryan’s has evolved to reflect the ever-changing amusement interests of its multi-generational clientele, without turning its back on its roots. It appeals to couples and families of all ages who can enjoy arcade, video and skill games as well as bowling and even axe throwing.
“I find it very interesting and appealing, the juxtaposition of bowling alleys, that have traditionally appealed to our older audience, with Virtual Reality games,” noted Liam Quilty-Dunn, who was recently hired as General Manager for the Hanover Ryan’s. Quilty-Dunn comes to Ryan’s from G Hospitality Group, where he served as General Manager for the company’s portfolio of restaurants across Rhode Island and Massachusetts. “I’m so excited to be a part of this.”
“Liam is a seasoned pro in the hospitality industry with experience running high-volume, fast-paced venues,” added McCaul. “He’s passionate about creating a first-class experience and we’re thrilled to have him leading our team in Hanover.”
With the management team in place, the company is now hiring for the 150 positions needed for the Hanover facility.
The demographics of the South Shore were closely looked at as plans for Ryan’s at Hanover Crossing took shape, a strategy the company has employed before opening its locations, whether it’s a bowling center or a game room. The focus has been on creating venues that promote social experiences for all ages. Some of the larger venues, like Cape Cod Mall, offer dining. Axe-throwing is one of the newer features at some locations. The most popular games are the prize games that produce instant winners.
Speaking of games, the company makes sure it stays current with the latest trends by attending large international trade shows.
“You can buy everything from a Tootsie Roll to a roller coaster there,” said McCaul with a laugh.
What You Need to Know about Deposit Insurance
By Glenn Fitzgerald
Most of us don’t spend much time worrying about how safe our money is in the bank. And we shouldn’t. However, during these uncertain economic times, it is more important than ever to be aware of a few nuances to ensure your bank is fully safeguarding your deposits.
FDIC Insurance is the first step.
The FDIC insures all deposits up to $250,000 per depositor, and most banks, at least the reputable ones, are FDIC insured. So, in the unlikely event that your bank failed or there was a bank run, you’d be covered for up to $250,000 of your savings, checking and money market accounts; certificates of deposit; and retirement accounts.
But what if you have more than $250,000 in deposits? What happens then?
Enter the Depositors Insurance Fund (DIF).
The DIF is a private, Massachusetts-based fund that covers savings and mutual banks. It fills the gap that the FDIC leaves behind. The DIF insures all deposits above the FDIC limits, meaning your money is 100 percent safe, 100 percent of the time. This applies to personal, business, nonprofit and government accounts.
All banks that are members of the DIF are also members of the FDIC. But the reverse is not true. Most member banks display DIF signs on doors and at teller stations and note their membership in advertisements and marketing brochures. Look for “Member FDIC / Member DIF,” or simply ask a customer service representative.
So, you checked and your bank provides DIF. What next?
Absolutely nothing. There are no forms, no paperwork, no special fees. Your coverage begins the moment you open a deposit account. If your bank does not offer DIF, it is likely time to reevaluate your relationship with the institution.
Peace of Mind
Again, when you deposit money in the bank, you shouldn’t have to worry about whether it will be there when you need it. Taking the small step to make sure your institution provides DIF coverage provides the peace of mind you deserve. And considering that no depositor has ever lost a penny in a bank insured by both the FDIC and DIF, that’s peace of mind you can take to the bank!
Glenn FitzGerald is an Assistant Vice President and Small Business Relationship Manager with The Cooperative Bank of Cape Cod.
The Cooperative Bank Supports Local Nonprofits
The Cooperative Bank of Cape Cod is supporting several local nonprofits during the holiday season, benefiting community members in need throughout the Cape Cod and South Shore region.
The Homeless Prevention Council is the beneficiary of The Coop’s annual Stuff-a-Stocking clothes drive. Donations of new hats, mittens, gloves, scarves, warm socks and books for children, as well as gift cards for teens and grocery gift cards for families, were dropped off at the giant stockings located at The Coop’s nine branches through Dec. 16.
The Coop’s additional holiday giving programs include:
- Underwriting the $2,400 cost of shopping for five families participating in the Adopt-a-Family program at the Homeless Prevention Council. Five Coop employees volunteered to shop for 12 children, including purchasing additional items such as grocery gift cards at their own expense.
- Supporting the Salvation Army’s Dress-a-Live-Doll program through The Coop’s employee-led ‘Paying It Forward” program. This year, 26 employees were split into five teams to shop for five children, or “dolls.” The employees raised a total of $1,125 for the program, which included a $500 match from the bank.
- Contributing $2,000 to the Plymouth Area Coalition for the Homeless and its Adopt-a-Family program. The Coop’s donation will cover the cost of providing toys, gifts, winter clothing and holiday meal baskets for up to four families in South Shore communities.
“The region’s severe housing crisis, compounded by inflationary pressures and continuing effects of the pandemic, have many of our neighbors struggling financially and emotionally this holiday season,” said Lisa Oliver, Chair, President and CEO of The Cooperative Bank of Cape Cod. “The Coop is committed to supporting the many nonprofit organizations that are improving quality of life and providing hope for so many people on the Cape and South Shore. I ask that everyone take time this holiday season to generously contribute, whether financially or through volunteerism, to nonprofits caring for our friends and neighbors in need.”
Leading Change Is A Constant For Every Organization
By Bob Cody
As one year ends and another begins, one thing we can be assured of is change. It is the one constant in life. The trick to leading and managing change is understanding it is constant, identifying what is needed, communicating the need and then leading and managing it to a successful conclusion.
We live in an era where the rate of change seems to be moving faster than what we, as individuals, can adjust to. Certainly we’ve seen that with regard to technology. We’ve also seen it with social and political issues. Sometimes the change is well-planned and explained and other times it just seems to be the result of someone’s wishes without any plan or explanation. Whether the change is a small process change or a big-picture change, we need to embrace it and personalize it.
As a leader, your role in change is critically important. Change is personal. To effect change in any organization, people must think, feel, or do something different. The catalyst for the need to change may be poor business results or practices, a new strategic direction, or a change in mission or focus. Regardless of the reason, the catalyst for it and the success of it rely largely on the leader.
When we as leaders approach daily operations, we normally fall back to well-defined and used processes and operational models. We understand the transactional approaches we use daily, why we use them, what to expect from them, and have a level of confidence and trust that using them will give us the results we expect. Leading change isn’t so clear cut. With change we are leading a dynamic mental, and often emotional, process. It is imperative that the reasons for change, the process of it, the expected results and, more importantly, the timeframe for it are understood by the entire organization. The responsibility for ensuring that all of these components are known and understood by the entire organization falls squarely on the leader.
To successfully accomplish change, the organization must have trust in its leadership. Building that trust requires open, transparent communication with a plan the organization can believe in. The leader must clearly outline the reason for the change and be consistent in their messaging.
For small organizations, the challenge may be small, as daily touches and communication are relatively straightforward. For larger organizations, the communication and change process may seem daunting due to size and structure. The challenge in both cases is to create an atmosphere that allows employees to internalize the need and change their thought processes around their workflows. Leaders must teach employees how to think strategically, recognize patterns, and anticipate problems and opportunities before they arise.
Leaders must also demonstrate they understand the need by acting in a manner consistent with their messaging. It must be apparent to the organization that the leader believes in the needed change and is committed to its success. Anything less will undermine the trust necessary to be successful. Change occurs in an organization when everyone is seeing behavior, actions and results leading them to believe the change process is working and everyone is behind it.
One way leaders can prepare their organization for change is to let them know it is inevitable. When talking to the organization about vision, stress that the organization is a dynamic and evolving one where change is inevitable to continue prospering.
In the end, as a leader it means being prepared and preparing your staff to understand the reasons for the change, the process you will utilize, how to implement that process and how to ensure the change so it becomes embedded in the culture of the organization.
There isn’t a leadership style that’s more effective than others when leading change. The trick is to be yourself. Be authentic, communicate extensively, and build trust. Dialing into your emotional intelligence will allow you to pick up on the resistance to change and the difficulties people are having with it. So, be sure you connect all of the dots to create an overall picture of the why, where and how long while clearly identifying how the change will be measured.
Bob Cody, executive director of Leadership Cape Cod, brings over 25 years of leadership experience in corporate, academic and nonprofit organizations. He is Chief Executive Partner of Innoreate, a business consulting firm, and was a member of the Cape Leadership Institute class of 2012. He serves as a member of the Board of Directors of CLI, Open Cape, Cape Cod Technology Council and the Greater Hyannis Chamber of Commerce, where he is the incoming Board Chair.